Employment Needle Bares Move in Canada

04 November, 2018, 17:01 | Author: Eric Barnett
  • Jobless rate File

The nation's unemployment rate dipped back down to its four-decade low of 5.8 per cent in October as fewer people are looking for work and job growth remains relatively flat.

According to Thomson Reuters Eikon, the numbers are better than expected after a forecast increase of 10,000 jobs and an unemployment rate of 5.9 per cent.

London's unemployment rate is close to an all-time low.

This was the seventh time in eight months that the unemployment rate in Montreal was lower than the unemployment rate in Toronto.

Areas with increases were Banff-Jasper-Rocky Mountain House/Athabasca-Grande Prairie-Peace River (5.3 per cent, up from 5.2) and Camrose-Drumheller (5.9 per cent, up from 5.2).


Year-over-year, employment is up by 206,000 positions or 1.1 per cent, thanks to large gains in full-time work.

October's numbers mean the economy has added nearly 206,000 new jobs in the past year.

Statistics Canada says Alberta's jobless rate also rose from 7 per cent to 7.3 per cent, while Canada's dipped to 5.8 per cent.

Experts have expected wage growth to strengthen in the tightened labour market _ but it has dropped every month since May when it was 3.94 per cent.

Among provinces, Quebec added more than 9,000 jobs, Manitoba added 1,800, while Ontario and Saskatchewan added 2,500 each. It dropped to an all-time low of 4.7 per cent a month later in August.

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